PUNE, India, February 2, 2018 /PRNewswire/ --
The report "Electroactive Polymer Market by Type (Conductive Plastic, Inherently Conductive Polymer, Inherently Dissipative Polymer), Application (ESD Protection, EMI Shielding, Actuators, Capacitors, Batteries, Sensors), and Region - Global Forecast to 2022" published by MarketsandMarkets™, the market is estimated at USD 3.51 in 2017, and is projected to reach USD 5.12 Billion by 2022, at a CAGR of 7.9% from 2017 to 2022. The growth of the Electroactive Polymers Market can be attributed to the increasing demand from the ESD protection, EMI shielding, and actuator applications across the globe.
Browse 78 tables and 35 figures spread through 134 pages and in-depth TOC on "Electroactive Polymer Market"
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The Electroactive Polymers Market is expected to witness significant growth during the forecast period, which is attributed to superior characteristics, such as low-cost material, lightweight, flexibility, as well as low driving voltage, high electrical properties, large strain capability, and growing demand from smart fabrics and smart electronics are the factors leading to the high demand for EAPs. Therefore, the increasing use of EAPs in ESD protection, EMI shielding, and actuator applications is expected to boost the Electroactive Polymers Market during the forecast period.
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Among types, the inherently conductive polymer market is projected to grow at the highest CAGR during the forecast period from 2017 to 2022
Based on type, the Electroactive Polymers Market has been segmented into conductive plastics, Inherently Conductive Polymers (ICPs), inherently dissipative polymers. Among types, the conductive plastics segment accounted for the largest share of the Electroactive Polymers Market in 2016. The inherently conductive polymers segment is projected to grow at the highest CAGR during the forecast period. Presently, ICPs are undergoing extensive R&D activities as these are expected to have potential applications in the fields of robotics, energy harvesting, coatings, medicals, and smart fabrics. ICPs exhibit excellent optical and electrical properties, high transparency, high environmental stability, low cost, and high process ability in comparison to other EAPs.
Thus, an increase in the demand for the ICP segment is expected to drive the Electroactive Polymers Market around the globe.
The actuator application is projected to grow at the highest CAGR between 2017 and 2022
The Electrostatic Discharge (ESD) protection application accounted for the largest share of the Electroactive Polymers Market in 2016. Electroactive polymers are used in various applications, ranging from sensors and actuators for electronic appliances to artificial muscles and motion generating devices. These are steadily replacing traditional polymers as well as metals owing to the unique electrically conductive characteristics. ESD and EMI are the major applications of electroactive polymers. Other applications of electroactive polymers include capacitors, sensors, actuators, batteries, and others. Increased demand from ESD protection, EMI shielding, and actuator applications is expected to supplement the growth of electroactive polymers during the forecast period.
The Asia Pacific Electroactive Polymers Market is projected to grow at the highest CAGR during the forecast period
Based on region, the Electroactive Polymers Market has been segmented into Asia Pacific, North America, Western Europe, Central & Eastern Europe, Middle East & Africa and South America. The Asia Pacific Electroactive Polymers Market is projected to grow at the highest CAGR during the forecast period. The growth of the Asia Pacific Electroactive Polymers Market can be attributed to the growing demand for ESD protection and EMI shielding applications. The region is witnessing the highest growth due to rapid economic expansion, especially in China and India. Rapid industrialization in this region plays an important role in fueling the demand for electroactive polymers in ESD and EMI protection, consumer electronics, and paints & coatings applications. In this region, the demand as well as manufacture of consumer electronics has increased significantly and is expected to drive the need for electroactive polymers in the near future. The Asia Pacific is expected to be the fastest-growing region of the Electroactive Polymers Market as it is expected to witness heavy investments in R&D, and rapid technological advancements, especially in the electronics industry. Moreover, increase in manufacturing activities combined with the region's emergence as a cost-effective production hub is expected to drive the Electroactive Polymers Market. These factors are propelling the demand for electroactive polymers in the region.
Solvay (Belgium), Parker Hannifin (US) Agfa-Gevaert (Belgium), 3M (US), Merck (Germany), Lubrizol (US), Novasentis (US), Premix (Finland), and PolyOne Corporation (US), among others, are the key players operating in the Electroactive Polymers Market.
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